Infinity Levels secures $500K from InVent

Visual of the game Ranch Run

Thailand’s gaming studio Infinity Levels Studio has secured $500,000 seed funding from InVent, a venture-capital unit of Intouch Holdings PCL.

According to an official statement by InVent, Infinity Levels will use this fund to for global launch of the animal racing game Ranch Run and launch two other titles of the same game in 2015.

Thanapong Na Ranong, vice president of Intouch Holdings PCL, told DEALSTREETASIA that the company had been looking for an opportunity to invest in game developing business for a long time, as the segment is the largest, in mobile applications.

“Infinity Levels Studio is led by two interesting founders. One is Tanapon Petapanpiboon, a successful game developer, who has launched mobile game Candy Meleon that had more than one million downloads. The other is Nikki Assavathorn, a business expert who has been behind many successful startups. When we saw the game ‘Ranch Run’, we knew that it had the potential to succeed at a global level. There was no hesitation in funding them (from our side),” he said.

The seed fund will last the gaming studio for next one and a half year; after that the investors plan to consider the company’s share value before taking the next step, he added.

Ranch Run, the first game application produced by Infinity Levels Studio has been soft-launched in Thailand, Australia, New Zealand and Malaysia and is available on the Apple store. In total, the iOS game app has generated more than 45,000 downloads, mostly from users in Thailand. Ranch Run is scheduled to be available for Android users, globally, next month.

The game has also received a US$2 million bridge-round publishing deal from Thailand-based gaming firm Pocket Playlab.

Infinity Levels Studio is the latest company that InVent gives a support since 2012. Currently, there are four companies funded by InVent, which are Oookbee, Meditech, Computerlogy and Infinity Levels Studio.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.